Capricorn Metals Ltd · ASX:CMM
Capricorn Metals — Shareholder Meeting (November 2022)
29 slides from Capricorn Metals's shareholder meeting presentation, Nov 29, 2022
Slide 1: 2022 Capricorn Metals AGM
2022 Capricorn Metals AGM November 2022 capmetals.com.au 1
Slide 2: Disclaimer & Competent Persons Statement
Disclaimer & Competent Persons Statement GENERAL FORWARD LOOKING STATEMENTS The purpose of this presentation is to provide general information about Capricorn Metals Limited (“Capricorn” or the This announcement may contain certain “forward-looking statements” and comments about future events. Forwa
Slide 3: Proxy Voting Summary: Adoption of Remuneration Report
Proxy Voting Summary Resolution 1 Adoption of Remuneration Report capmetals.com.au 3
Slide 4: Proxy Voting Summary: Re-Election of Director Myles Ertzen
Proxy Voting Summary Resolution 2 Re-Election of Director – Mr Myles Ertzen capmetals.com.au 4
Slide 5: Proxy Voting Summary: Re-Election of Director Mark Clark
Proxy Voting Summary Resolution 3 Re-Election of Director – Mr Mark Clark capmetals.com.au 5
Slide 6: Proxy Voting Summary: Performance Rights to Mark Clark
Proxy Voting Summary Resolution 4 Approval of Issue of Performance Rights to Mr Mark Clark capmetals.com.au 6
Slide 7: Company Update
COMPANY UPDATE capmetals.com.au 7
Slide 8: CMM Corporate Summary
CMM Corporate Summary Capital Structure Directors and Management Shares on issue 373.9 million Mark Clark – Executive Chairman Kim Massey – CEO Performance rights 3.4 million Mark Okeby – Non Exec Dir Paul Thomas – COO Myles Ertzen – Non Exec Dir Stephen Evans – GM Karlawinda Share price $4.30 Berni
Slide 9: DNA of quiet delivery & exceptional returns
DNA of quiet delivery & exceptional returns History of CMM management group 1995 – 2018 • Two ASX listed gold mining companies • 4 projects built & operated in Australia and Ivory Coast • 7 processing plants, >15 open pits developed & operated • >$3bn equity value & $400m dividends Deep & sustained
Slide 10: Karlawinda Gold Project
Karlawinda Gold Project KARLAWINDA GOLD PROJECT MT GIBSON GOLD PROJECT Kalgoorfie CAPRICORN METALS LTD —— _—,
Slide 11: Karlawinda Gold Project
Karlawinda Gold Project Mine type Open pit Plant type 3 stage crushing 7.5MW ball mill CIL processing Throughput 4.0 – 5.0 Mtpa Reserve grade 0.8g/t1 Recovery 93% Strip ratio (w:o) 3.9 Mine life 10-12 years Ore reserves 1.34Moz1 Mineral resources 2.29Moz2 Expected production 110 – 125koz pa capmetal
Slide 12: KGP – Plant
KGP – Plant capmetals.com.au 12
Slide 13: KGP – TSF
KGP – TSF capmetals.com.au 13
Slide 14: KGP – Airstrip
KGP – Airstrip capmetals.com.au 14
Slide 15: KGP – Building on an excellent first year of operations
KGP – Building on an excellent first year of operations FY22 Q1FY23 Ore mined ‘000 BCM) 2,790 737 Waste mined ‘000 BCM) 8,954 3,095 Stripping ratio (w:o) 3.2 4.2 First Year in Review: Ore mined ‘000 t) 5,940 1,606 • Achieved steady state 3 months after first gold bar Ore milled ‘000 t) 4,450 1,120 •
Slide 16: KGP Ore Reserve – 10+ years and further growth potential
KGP Ore Reserve – 10+ years and further growth potential Oct22 Update • ORE up 283koz (24%) after mining depletion • MRE up 287koz (13%) after mining depletion Reserves 1.34 million ounces • Mine life over 10 years • Strip ratio 3.9 Resource 2.29 million ounces • Down dip extensions of Reserve Gold
Slide 17: Unlocking the potential of a new gold camp at KGP
Unlocking the potential of a new gold camp at KGP ➢ CMM owns 2,941km2 of exploration & mining tenure at KGP (>100km E-W) ➢ Regional geological settings prospective for gold in the Pilbara Craton ➢ Limited regional drilling - 97% of drilling within 4km (50km2) of Bibra deposit ➢ Multiple regional tar
Slide 18: Mumbakine Well acquisition presents walk up drill targets
Mumbakine Well acquisition presents walk up drill targets ➢ Acquired 361km2 EL in June 2022 ➢ Contiguous to KGP tenure and <10km from KGP mill ➢ Close to main site access road ➢ Historical exploration focussed on soil anomalies at J ’ Vein (400m strike) & Central Zone (1km strike) ➢ Historical drill
Slide 19: Mt Gibson Gold Project
Mt Gibson Gold Project KARLAWINDA GOLD PROJECT MT GIBSON GOLD PROJECT CAPRICORN —— METALS LTD —— _—,
Slide 20: Mt Gibson Gold Project – a hidden gem
Mt Gibson Gold Project – a hidden gem ➢ Prime location in Murchison, WA ➢ 280km northeast of Perth. ➢ Historical (1986-99) gold production ➢ >868koz, 14 pits avg depth 60m ➢ Closed when gold price cA$450/oz ➢ “ ff the d” for 30 years. ➢ Wombat underground mine followed high grades below pit ➢ CMM ac
Slide 21: 2.8Moz Resource - platform for a significant mining operation
2.8Moz Resource - platform for a significant mining operation Indicated Inferred Total Resource Cut-Off Tonnes Grade Gold Tonnes Grade Gold Tonnes Grade Gold (g/t) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) 0.4 76.0 0.9 2,106 28.9 0.7 649 104.9 0.8 2,755 Nov22 resource update Indicated categ
Slide 22: Platform for a mine, but still focussing on resource growth
Platform for a mine, but still focussing on resource growth Resource shells largely limited by extremity of drill data ➢ Updated resource shell pushes 20m deeper to 160m average depth (Indicated cat – 150m) Resource extension drilling will continue in parallel with development studies capmetals.com.
Slide 23: Resource constrained by depth of drilling
Resource constrained by depth of drilling capmetals.com.au 23
Slide 24: Significant regional targets
Significant regional targets First 3 targets for testing 1. Extensions to the Mt Gibson Mine Trend ➢ Drone magnetic geophysical survey completed ➢ Multiple high priority targets – geological & structural signatures 2.McDonalds/Highway (5km N of resources) ➢ High grade rock chips & old workings ➢ 20m
Slide 25: Capricorn Resource & Reserve Growth
Capricorn Metals Ltd Growing a platform for a high quality, long life business Capricorn Resource & Reserve Growth 6,000 5,000 4,000 2755 Ounces (kOz) 2083 3,000 140 2,000 MGGP maiden ORE 140 target completion Q2 2145 2145 2291 1,000 1525 1344 1201 1201 892 0 MRE ORE MRE ORE MRE ORE MRE ORE 2019 202
Slide 26: CMM - a compelling combination of cashflow and growth
Capricorn Metals Ltd Karlawinda Gold Project ➢ Long mine life and high margin project ➢ Q1FY23: production 31.0koz @ AISC $1,166/oz ➢ Q1FY23: $38.5m cashflow from operations - industry leading cashflow per oz ➢ FY23G: 115 – 125 koz @ AISC $1,160 - $1,260/oz ➢ Strong cash build providing balance shee
Slide 27: Mineral Resources
Mineral Resources* Indicated Inferred Total Mineral Resources Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Deposit Type Cut-Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (koz) KGP Open Pit 0.3 < 82.3 0.7 1,945 16.9 0.6 346 99.2 0.7 2,291 MGGP Open Pit 0.4
Slide 28: Ore Reserves
Ore Reserves* Probable Total Ore Reserve Gold Gold Gold Gold Tonnes Tonnes Deposit Type Cut-Off Grade Metal Grade Metal (Mt) (Mt) (g/t) (koz) (g/t) (koz) KGP Open Pit 0.3 < 53.0 0.8 1,344 53.0 0.8 1,344 MGGP Open Pit - - - - - - Total Total 53.0 0.8 1,344 53.0 0.8 1,344 Notes: 1. Ore Reserves are a
Slide 29: Capricorn Metals Ltd (ASX: CMM)
Capricorn Metals Ltd (ASX: CMM) Level 1, 28 Ord Street West Perth, WA enquiries@capmet.com.au +61 8 9212 4600 www.capmetals.com.au ABN: 84 121 700 105
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